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How InsurePay transformed Northbrook Insurance

Meet Natale Gallo, Vice President at Northbrook Insurance Group Inc., a family-owned brokerage serving Ontario, Canada. Natale has been actively involved in Northbrook since 2011, handling bookkeeping and accounting, and transitioning to a full-time role in 2015. Northbrook’s journey with InsurePay Payables has been transformative, simplifying payments and enhancing security.

Challenges Before InsurePay

Northbrook faced significant challenges in tracking timely payments to insurance carriers and receiving payment confirmations. Their previous payment process involved preparing checks and ensuring they reached the correct addresses, leading to back-end workflow issues and payment reconciliation challenges. Delays in payments and differences in timeframes among carriers, such as Wawanesa, complicated matters further.

Why InsurePay Payables

InsurePay Payables emerged as the ideal solution for Northbrook due to its specialization in insurance brokerage and carrier payments. Unlike other methods, InsurePay offers a streamlined process for payments, allowing users to select and authorize payments within a single platform. It eliminates the need for manual entries and provides a secure, user-friendly experience.

Implementation and Standout Feature:

Northbrook began working with InsurePay in 2016, initially using pre-loaded EFT information. In 2022, they transitioned to the latest version of InsurePay Payables, granting them the flexibility to make payments to any insurer at any time, provided they have the EFT payment information. The standout feature is the consolidation of payment-related tasks into one area, simplifying the process and offering comprehensive tracking capabilities.

Usage and Security:

Northbrook employs a multi-step process for payment reconciliation, ensuring accuracy and security. One team member handles reconciliation and prepares payments, while another reviews and approves them. InsurePay’s security features are crucial for Northbrook, as they collect funds on behalf of consumers. The system ensures that users can only access functions for which they have approval rights, enhancing security.

Strategic Partnership:

Northbrook considers InsurePay a strategic partner due to its commitment to research and development, continuous updates, and adherence to industry standards. InsurePay’s dedication to improving payment security aligns with Northbrook’s commitment to safeguarding customer funds.

Significant Value to Northbrook:

InsurePay Payables has streamlined Northbrook’s accounts payable processes, eliminating ambiguity about payment methods and sources. The system offers a consolidated, accurate, and efficient platform for all payments to insurance carriers.

Adopting InsurePay Premium Payments:

Northbrook adopted InsurePay Premium Payments to address the rising concerns of counterfeit checks and fraudulent deposits. This solution provides secure payments to vendors, reducing risks and enhancing payment security.

Experience with InsurePay Premium Payments:

Northbrook’s experience with InsurePay Premium Payments has been unparalleled. They use the virtual terminal to collect customer information and send payment confirmations. The process is simple, efficient, and flexible, allowing customers to pay by credit card and meet their preferences while ensuring Northbrook’s obligations are met.

Recommendation:

Natale wholeheartedly recommends InsurePay, emphasizing its industry-leading status in accounts payables and receivables. The product offers high security, a user-friendly interface, and excellent customer service. The friendly and accommodating team at InsurePay makes the entire experience exceptional.

Favorite Aspect of InsurePay:

Northbrook’s favorite aspect of working with InsurePay is the people. The product is excellent, but the genuine rapport developed with the InsurePay team transcends the typical customer-vendor relationship. The friendly, cooperative, and supportive nature of the InsurePay team enhances the overall experience.

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